Levi Strauss Q1 Profit Decreases, but beats estimates

(RTTNews) - Levi Strauss (LEVI) reported a profit for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $115 million, or $0.29 per share. This compares with $196 million, or $0.48 per share, in last year's first quarter.

Excluding items, Levi Strauss reported adjusted earnings of $135 million or $0.34 per share for the period.

Analysts on average had expected the company to earn $0.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.1% to $1.689 billion from $1.592 billion last year.

Levi Strauss earnings at a glance (GAAP) :

-Earnings (Q1): $115 Mln. vs. $196 Mln. last year. -EPS (Q1): $0.29 vs. $0.48 last year. -Analyst Estimates: $0.32 -Revenue (Q1): $1.689 Bln vs. $1.592 Bln last year.

-Guidance: Full year EPS guidance: $1.30 to $1.40 Full year revenue guidance: $6.3 Bln to $6.4 Bln